Forecast: Metals Consumption in Chile

The consumption of metals in Chile has shown both growth and volatility over the past decade, with significant fluctuations. In 2023, the Unit of Domestic Material Consumption stood at 88.49. Year-on-year variations reveal notable changes: 2013 saw a 1.71% increase, while 2016 experienced a sharp decline of -3.39%. More recently, there has been a positive yet modest growth, with 2023 reflecting a 0.079% increase over the previous year. The CAGR for 2023 is relatively low at 0.072%, indicating slow but steady growth.

Looking ahead, forecasted data from 2024 to 2028 suggests a continuing trend of incremental increases, with the forecasted 5-year CAGR at 0.06%. Future consumption is expected to rise modestly, with a forecasted 5-year growth rate of 0.29%.

Future trends to watch for:

• Technological advancements in mining and metal refining processes
• Government policies and regulations impacting the industrial sector
• Global economic conditions affecting demand for metals
• Investment in sustainable mining practices and renewable energy sectors
• Market fluctuations influenced by geopolitical dynamics